Perils has lifted its insured property loss for European Cyclone Herwart to EUR 255mn ($317mn), up only slightly from its initial loss estimate of EUR252mn ($297mn).
Dutch pension fund PFZW has reported that the value of its ILS portfolio fell by 13.3 percent year-on-year to EUR3.84bn at year-end 2017, but currency hedging losses outweighed the impact of catastrophe claims.
One of AIG's former reinsurance buyers, Samir Shah, once argued that insurers should be looking at ILS not just as an alternative to reinsurance cover but as a way to more fundamentally overhaul their capital structures.
Aspen said it would take $135mn in net losses related to the Southern California wildfires during the fourth quarter, as an uptick in primary insurance losses also contributed to a $245mn underwriting loss for the quarter.
Insured losses for European winter storm Friederike will be between EUR1.2bn - EUR2.6bn ($1.71bn - $3.71bn), ranking it among the continent's most expensive storm losses, modelling firm AIR Worldwide has estimated today.
